KUALA LUMPUR, March 20 (Bernama) — The Malaysian Investment Development Authority (MIDA) and Enterprise Singapore (EnterpriseSG) had enhanced the jointly managed Malaysia-Singapore Business Development Fund (MSBDF) for Third Countries. Businesses are highly encouraged to tap into the fund, which was first established in 2004 to strengthen cooperation between the private sectors of both countries.
A significant enhancement to the provisions of the MSBDF agreement was agreed upon on 30 October 2023 between YB Senator Tengku Datuk Seri Utama Zafrul Aziz, Malaysia’s Minister of Investment, Trade, and Industry (MITI) and H.E. Gan Kim Yong, Singapore’s Minister of Trade and Industry. The fund facilitates both countries to jointly pursue opportunities in third countries and conduct joint pilots in each other’s country, especially in emerging areas such as green economy and digital economy.
